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is back, and the $13 billion bailout in cypress. they want to pay for it by taxing people's bank accounts. dagen: the president will announce his no , nominee for s secretary. another looks at a man's record over at the justice department. connell: the cyber threats, a new report according to an isp, nigeria as being the worst for spam. dagen: the corporate tax burden in the country. who pays the most? those stories and much more coming up in hour on "markets now." ♪ connell: markets are going back to positive. dagen: who has a greater connection than anyone in the building. connell: good morning, nicole. dagen: good morning, yes, my mother and father were born in cypress, but i want to look here at the averages, a lot stemming from what we heard in cypress, them giving a vote to tax the depositors there, and that, in turn, could really pressure europe overall, that vote takes place tomorrow. the banks closed until thursday. the euro is at a four month low, and people are spooked. i mean, that's really what's occurring here, down 45 points for the dow jones industrials, so that's down
with mandatory spending or comprehensive tax refm. that is what it will take. neil: do you think that bernie marcus, the home depot cofounder, was telling me on fox news, the spenders are using a pr war, the strong stock market, improving economic numbers as jusjustification for more spend. >> i don't buy that, i don't think that the sck marke is as pro efficient -- prefish ent as people think, we don't need to been the budget, the way that the government calculates a balanced budget is a bad joke, we do have to do, we have to start treating the disease, deal with health care costs, deal socialnsurance programs. neil: they are not. they might -- but remind me,er dayhey don't, a new pore added to our -- a few more added to our debt. all unfunded. >> that is right, that is what we need. >> you local starkest terms. >> the full view, if we look at big number, over 70 trillio, if we end up doing -- >> how does that work? >> debt held by public, held by social security medicare trustee fund, and pensions unfunded, arrange of commitment contingency, and unfunded social security and medicare promis
us up. it is serving iranians but not a penny tax increase. but in that environment it is unrealistic thing to expect a grand bargain and we don't want to hold short term policies hostage to have a grand bargain i'd love to see but isn't going to happen right now. >> this last graph is about japan. you brought it to my attention. you wrote a book at about the japan economics and the -- >> that's right. >> japan is the full-scale dress rehearsal for what we are going through now. people studying japan in the '90s were dreading what happened. >> if you look at japan, one thing you say is when you look at japan now you are glad the japanese central bank is finally doing something. you often argue that japan didn't do enough in terms of stimulus. i want to show you japan's debt to gdp. i guess if this isn't enough, than what is? look at what they spent, it paved every roadway and highway that you could find and it went from 60% debt to gdp to 250% and still it didn't. >> be careful here because that's is gross debt and the central bank is a smaller number actually. >> i have seen the debt
by new york state. first i was like so what? but lot of state offer tax inaccepttive to intyce business to the state and i'm for lower taxes. then i broke down the numbers. new york state is offering tax credit, not simply tax deductions. estimated at or near 24 a year. i can say the taxpayers of new york would not only not collect any taxes from the "tonight show" they will toll out steps of millions in subsidiaries to nbc. we ask, was nbc, fallon and the crew of rich fat cats need that money? >> bob: are you asking me that question? >> eric: yes. >> bob: sorry. let me -- >> eric: here is the crux of the question. >> bob: i got it. i got it. >> eric: give them free money. >> eric: i don't understand that the states that entice people to production like michigan, is it that they lose money? or don't make money? this is what happens. we give you $24 million but the economic activity that you bring when you come to the city, make up for it that way. >> dana: i think this screams need for tax reform. this is so warped that for cuomo can't get his arms around the fracking issue. issuing the
frantically looking to rejigger the tax. i stress, not eliminating the tax. maybe focus on the rich. take 20% of their dough. hard to say. this much is not. it is going to happen. because the government needs the dough. if they still want to get european union dough. it gets weird and complicated. desperate to stay in the euro club. does this ring a bell? it should. no one is taxing the bank holdings, thanks to obamacare, they are going after the other assets. 3.7% on investment sales larger than 100,000 grand. the next time you try to sell your house, trust me. you will hit the roof. think about that. tax not on your income, earned or unearned but your assets. what you have, what you own. your tangible assets. home here, bank account there. is there difference? no. no difference between american government taxing you for medical devices and what it deems as a medical insurance plan. taxing you not on what you make but what you have. the stuff you attain through life of work no, matter when you work or how much you made when you work. stuff you got now. to government, it sees that y
of dollars of emergency crash and creditors impose onetime tax of 3% on all bank deposits under $130,000. >> going deep here. >> the tax could be closer to 10% on people who have over $640,000 in the bank. that's according to the "the wall street journal" this morning. people stood in long lines over the weekend to withdraw money before the policy went into effect and now russian president vladimir putin is calling the move, quote, unfair, unprofessional and dangerous. russian citizens make up the majority of billions of euros held in cypress bank. this is important. >> cypress. >> who cares about cyprus? >> come on, cyprus. are you telling me if somebody sneezes in cyprus we get a cold than on the nasdaq? >> tell us why. >> we have a cold on the nasdaq. the nasdaq is going down today. not too many people care about cyprus but a way the europeans have screwed up the bailout by getting the people to pay a part of the cost. you could have a run on the bank and europeans say why do i have my money in this bank? might be a tax on me next. it shows that europe is still a mess, that they h
. the breakdown below $100,000 euros will be taxed at 6.57%. above that, taxed at 9-point #%. above 500,000 euros, taxed at 15%. the wholesale robbery has caused the citizen to rush to get the money out. the response, the banks close. how can a government assume it can get away with this? because they assume they can get away with it. they can own guns but it's a bear to get them. the government wonders of the populist, what are they going to do? shoot us? in america, yes, we will shoot you. gun control advocates have fun order to believe they protect us from the government tyranny. what if the government here tried to take over your bank account? war. it would be on. cyprus proved that joe biden's notion all you need is a shotgun is deeply flawed. sadly, though, the steal from the rich mentality is alive and well in america. remember occupy wall street? how different is the solution from the ret take demands your wealth is spread around? the defense against the toxic ideology isn't only reason but almost with a rifle. so it will never happen here. you have the good sense of the founding fathers
a plan for the new budget, including new taxes. how much you ask? reaction from one of the top republican leaders in the house on that dollar figure. martha: how about this? there is a report out there that a hacker is giving out confidential memos on the terror attack in benghazi. how could this have happened when lawmakers and the victims families still do not have any answers in terms of what they have been demanding? big questions this morning. john bolton on that. >> the security in benghazi was a struggle and remain ad struggle throughout my time there. the situation remained uncertain and the reports from some libyans indicated it was getting worse. diplomatic security remained weak. in april there was only one u.s. diplomatic security agent stationed there. ♪ [ male announcer ] help brazil reduce its overall reliance on foreign imports with the launch of the country's largest petrochemical operation. ♪ when emerson takes up the challenge, "it's never been done before" simply bemes consider it solved. emerson. ♪ given way to sleeping. tossing and turning have where sleepless
to be? the monopoly man smoking a cigar? let's take a look at the euro. parliament voting to tax -- to not tax bank deposits. that's the latest word. a very fluid situation. much more on "closing bell" next. >> thanks very much for watching "street signs." stick with us. see you at the same time tomorrow. >>> hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. the dow and the s&p 500 threatening to do something we haven't done all year. decline for three days in a row. >> shall we panic? i don't know what to do. i'm bill griffeth. stocks are lower. they've been lower all day. we've had just in the last few minutes here, to see if parliament rejected that one-time tax on bank deposits, which was a condition of its bailout plan. now investors are concerned maybe a default by cypress could intensify the euro zone's debt crisis. >> morgan stanley's adam parker, who had been negative says, no, no, no, i'm going to raise targets. in fact, one of the biggest bears turning bullish. why this market still has plenty of room to r
a silicon valley insider and former yahoo coo daniel rosenzweig on the push for the sales tax. what impact will that have on retailers? you'll want to hear his answer this morning and first, why dollar general can make some sense for your portfolio and take one more look at futures this morning. looking at a pretty decent open for a short workweek this day as we have good friday off here. live from squawk on the street from post 9 when we return. your big picture. but e with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> shares of dollar general rising in pre-market tradex clueding items that yrms 97 cents a share, beating wall street forecasts and revenues essentially in line with the company benefiting from increased food sales and jimmy,
in funds that were originally estimated for phase 1 budget from tax revenue and the sftca won't be available for phase 1 construction. the other revenue sources that we've identified as potential funding strategy for the adjustment in the phase budget would be to increase the loan amount. we are beginning the dialogue with it to make those adjustments. that potentially could result in as much as $97 million in additional revenue to the program. sales tax that the programmed out in future years to phase 1, that would result in about $15 million in phase 1 funding. we have a pending grant through the one bay area grant program to fund pedestrian area for bikes just over $10 million and we are ranked highly in that process and expect to hear something later in this spring with the success of that grant. also potentially accelerating grants from phase 2, likely through a no interest loan from one of our partners. the phase the can't be developed until actual phase 1. because of the restrictions of the use of land sale revenues, we are looking at this to construct only a relative
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return for free. it's free to prepare, print, e-file and you can even chat with a tax expert. get the federal free edition at turbotax.com. people have chosen it again and again for over eight years. its key ingredients are also found in every day food like avocados, broccoli and bananas. it contains about as much caffeine as a cup of the leading premium coffee. zero sugar. four calories. 5-hour energy is like... coffee with vitamins and nutrients. simple. put them together and it's a great combination. try a sip... then decide. ♪ >>> time for guys tell all, where the guys answer your burning questions on romance and relationships. first up, the steamy sexy, he's maricio. he's been married 17 years with four daughters. and next is comedian and actor rick younger who is married with a son. and we've got bob ginny. he's divorced and he's the host of "showdown." >> that's why we know bob? >> and last but not least is the single "cosmo" bachelor of the year, ryan shingelo. >> and sara haines is across the street at the nbc experience store. what kind of questions do you have? >> fir
are always trying to protect taxes or wealthy people? is that a problem out there with the rank-and-file voters? >> no, i mean -- i don't think so. i think that's obviously a misperception that's become a real perception by the public. but i think we have to talk about things in ways that people can relate to. i mean, if you're talking about taxes and taxing small businesses, you have to talk about the fact that if -- if -- if our small businessman has to pay more money to the government, then he's going to have less money to pay to his ememployers, and the ememployers will have less money to send kids to the school of their choice. i think it's a matter of talking about the debt differently. not just we are in imminent danger in a debt crisis in this country. but what does that mean to people? it means that our government is growing so fast and it's becoming so expensive that we're making payments to our credit cards that we can't afford, which means we have to keep -- we'll keep having this debate about needing more revenue to the government. well, that means less money in peo
. the sequencing done right on this cut spending cuts and tax reform. things sound great and they're moving along now. but joe, as we talked about earlier, you're going to have reticent democrats. and even key congressional races who are going to slow down a bit and saying, look, i want immigration and guns dealt with, what are we doing about the economy and the budget, the debt, and tax reform? >> and this is, richard haas, you can only push people so far, i mean, not the republicans' best friend. this weekend said democrats you're about to lose me. i pay 40% federal, 15%. well, i hear we have it cued up. let's go. this is bill maher this weekend. >> -- actually do pay the freight in this country. i just saw the statistics, something like 70%. and here in california, i'm just going to say, liberals, you could actually lose me. it's outrageous what we're paying. over -- i'm willing to pay my share, but yeah, it's ridiculous. >> and not only that -- >> wow. >> people like bill maher pay 55% in california, people in new york pay over 50%. in new jersey, why is a republican sitting at 70% plus appro
as it could have been. there was talk at the beginning of the whole crazy mess last week that they would tax mom and pop depositors with less than 100,000 in the barng. they did nothing wrong. they did not get the banks in that mess. a lot of outrage about that. protests in the street, et cetera, et cetera. we're now trying to grab those funds above 100,000 euros and the rub here is that there's at love russian offshore money in cyprus. that's what the authorities are trying to grab. >> parking money. >> i'm getting very nervous. >> to pick up on what you're saying about what you call the tax in that first proposal, a lot of the critics said it is not a tax. that goes to the core of this. the entire financial system is based on trust. the average consumer isn't worried as much about bond yields. the trust when they put money into the bank, they can take it back out. how much did the floating of that proposal cut against that trust? i think hugely. i wrote a column about this this week. i think if you're an italian or a spaniard or in another potentially beleaguered european country, you're w
the budget over the next ten years. >> but no tax increases. >> no tax increases. the president already got $650 billion worth of tax increases january 1st. he got a trillion dollars worth of tax increases in obama care. this year the federal government will bring in more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spending cuts. the taxes did go up. it still hasn't made enough of a dent. you still have to sit down and do something. >> right. i think we're doing our budget this year. actually we're doing it this week here in the house. our budget will balance in ten years. we're going to pass our budget. hopefully the senate will pass their budget. except their budget never comes to balance. the president's budget never comes to b
in response to cypress' plan for a deposit tax. now it seems like we're shrugging off those headlines. now, shares of hewlett-packard and verizon are helping the dow recover some grounds after upgrades from morgan stanley. verizon actually hitting more than an 11.5-year high today. there's the stock, up 87 cents, 48.89, as you can see on your screen. we're not getting any help from financials today. it's the worst performing sector following suit with some of these european banking counterparts. check out some of these euro financial names that are actually trading here in this country. they're getting knocked down. royal bank of scotland, create suisse, deutsche bank, ubs, war clays, all -- barclays, all of these stocks substantially lower in this country. s&p 500, we are still within striking distance of the record high despite moving lower today, the s&p down more than almost five points as you can see on your screen. is it going to happen this week? are we going to get that big number? we're looking for 1565.15. so close. as always. let's get right to our floor show. we've got traders
responsibility as opposed to the republican plan which provides another tax break wind fall to very wealthy people at the end of everybody else. the expense of the middle class, the expense of commitments to seniors. so our focus right now is to number one, do no harm to the economy. number two, invest in a jobs plan that will help put people back to work. whether building roads or bridges or infrastructure or other things important to our economy. >> why will it take until 2040 to balance the budget under your plan? >> well, if you actually look at the past 40 years, we've only had four balanced budgets. those were during the clinton years and once leaning over to the bush years and then they squandered that balance. so the reason we do that is our focus is on jobs, craig. our focus is on meeting our commitments to seniors. we will not balance the budget on the backs of our kids' education or on the backs of our commitments to seniors. whether it is under medicare or medicaid. what we do is immediately begin to reduce the deficit so they're growing much slower than the economy. which is th
country to get a bailout. very controversial because it includes a tax on bank accounts. over the weekend, nervous cypriots ran to the atms to with draw large sums. lawmakers holding a hearing today in the u.s. on the us airways/american merger. a senate judiciary committee looking into the impact the deal might have on competition. the ceos of both airlines will appear. many analysts don't expect ticket prizes to rise, because there isn't much overlap between usair and american. still airline mergers are often heated and messy. complaints about lost bags, screwed up reservations, delayed flights typically soar after two airlines combine their reservation systems. we'll continue to watch the big airline merger. >> always has the potential to be a hot mess. >> yeah. >> take a look live at the vatican. the pope now greeting the leaders from around the world. we'll tell you what he says in his next -- before his inaugural mass this morning. take you back live to rome coming up next. and then today marks ten years since the invasion of iraq. coming up john's powerful conversation with america
the deficit long term. the democrat budget, of course, talks about a big tax hike over ten years of about $1 trillion. republicans say they're not going to do that. they want to roll back obama care. these are the two outside extreme positions. that's where we're at now. going forward can they come together and find some middle ground? >> weigh in on that, lauren. is there really a chance for reconciling these two extreme budgets? >> i think david kind of nailed it here. when it comes to the budgets, they're just a little bit too far, but this budget process isn't a waste of time. i think it's promising that they went through regular order. this is something that the senate hasn't done. they haven't passed a budget this a long time. i think what we'll see is this may open the door to pass some appropriations bilts for 2014 and this could put us on the road for a long-term deficit reduction deal. these are just opening gothss here. >> david, as i look at your article, it focuses on immigration reform and how it's making its way through the senate. where do things stand right now? >> alex, the
a proposed online sales tax. [ man ] i got this citi thankyou card and started earning loads of points. we'll leave that there. you got a weather balloon, with points? yes i did. [ man ] points i could use for just about anything. go. ♪ keep on going in this direction. take this bridge over here. there it is! [ man ] so i used mine to get a whole new perspective. [ laughter ] [ male announcer ] earn points with the citi thankyou card and redeem them for just about anything. visit citi.com/thankyoucards to apply. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. [ male announcer ] when you wear dentures you may not know it, but your mouth is under attack. food particles infiltrate and bacteria proliferate. ♪ protect your mouth, with fixodent. the adhesive helps create a food seal defense for a clean mouth and kills bacteria for fresh breath. ♪ fixodent, and forget it. ♪ been waiting for the price then hurry, sleep train's beautyrest and posturepedic clo
patty murray's plan to raise taxes, increase spending and never come to balance. top republicans say it doesn't add up. >> that means more debt. fewer jobs. frankly much higher taxes from the american people. we certainly hope that the president will change his mind and submit a plan that actually balances the budget. >> the senate plans to vote on the dueling plans and a whole series of amendments tomorrow. democrats say they favor a balanceed approach and republicans say they back a budget. >> bret: mike emanuel live on the hill. dow lost 90. s&p 500 dropped 13. the nasdaq fell 32. cyprus is officially on the clock. european bankers have given cyprus four days to come up with a new plan to avoid bankruptcy. senior foreign affairs greg palkot tells us what the hurry is. >> anger outside of the cyprus parliament. bank employees are worried they will lose their job. the both would take measure to consolidate the troubled cypriot financial failure to protect the smaller deposito depositors, said to be part of plan "b" to contribute to multibillion dollar bail out by the country. >> the
who would owe taxes being fired. we will speak live with the bill's author straight ahead. greg? >> hold on. i am being told that you are using the i am being told joke too often. >> wait. he stopped. >> they are stealing me we shouldn't -- they are telling me we shouldn't. >> they told me that too. >> she is so hot she is mistaken for me. i am here with jedediah bila. if he was stuffed pizza i would eat him back to front. he is the co-host of the opie and anthony show. and in norway he is considered a walking stick. it is my repulsive sidekick, bill schulz. and he knows getting the facts like i know double knit tacks. they never went out of style. >> a block. the lede. that's the the first story. >> they are getting more and more personal every day. the news hit like a punch to the stomach with a fist made of knives. and those knives made of smaller fits. ryan gossling is taking a break from acting at a time when america can't get enough of him. in an interview with the ap, the actor said of his craft, quote, i have been doing it too much. i have lost perspective on what i am d
. granting huge tax breaks, that has to be made up somewhere. the ryan budget repeals the affordable care act except they keep the projected savings in their budget projections. the $716 billion that we heard so much about in the election last year, paul ryan keeps the savings that obamacare would generate, but eliminates the benefits. the revenues that come from some of the taxes on medical devices and other things, they keep the revenue that comes from the affordable care act, but they want to cut the benefits. so thouis is really about an ideology. the wealthiest americans have essentially captured the republican caucus. and what we see in the ryan budgity or in anything that has to do with the affordable care act, anything that has to do with the smart investments that we know we need to get the economy growing again, those are off the table. big tax cuts for the wealthiest americans that has to be made up by somebody and we know who that somebody is. >> thank you for coming in. there is no huge surprise that the ryan budget overwhelmingly passed in the house or that it failed in in the s
. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ >> do you like eggs? >> doesn't everybody. >> the scrambled eggs and people fgather on the first day of swing and restaurants compete who can make the biggest portion and a record to the team cooked 1500 eggs in one gigantic pan. >> why? >> they're a symbol of a new beginning for spring. >> looks pretty good. >> thanks for joining us. >> "america live" starts right now. >> megyn: fox news alert just 48 hours after an assassination style hit on a high ranking state official in colorado, investigators are looking into whether a powerful saudi arabian family is in in way tied to the murder. tom clements was director of colorado department of corrections. as the manhunt for his killer began, who could have carried this out. welcome, i'm megyn kelly. investigators working on several theories today as they clements murder, but one leading theory involved this man here, he is a saudi national serving
investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. great first gig! let's go! party! awwwww... arigato! we are outta here! party...... finding you the perfect place, every step of the way. hotels.com >>> good morning, atlanta. doesn't look like it yet, though. see a live shot of downtown atlanta there. very soggy downtown. heavy thunder and lightning overnight. and take a look at the radar. that's why. heavy storms move in across the southeast today. everybody kind of hunkered down there. not only trying to get you ready for the day ahead with weather but let's talk about the week ahead from outer space to cool new cars. time to get you ready. let's talk about tuesday first of all. dragon capsules splash down in the pacific ocean. filled with t
the president wanted. >> well, he got his revenue. he has gotten his revenue. obama care has 21 new taxes. my goodness. i'd like to get rid of obama care in total and rid of those taxes. you've got to look at some of these other components of the problem. and you cannot tax your way out of this. i quite frankly liked the op-ed in "the wall street journal" today that showed our budget with the stablization pulling back on all of those spending components and putting ourselves in a position of growth would give us household income growth of $1500 in 2014 and $4,000 per household within this ten-year window. and what we're saying is, you've got to get this under control. now, the president wants to continue to spend and put new spending in place by getting new revenues. that's not workable. the american people don't want that. they want to see some spending restraints, some control, some common sense brought to bear in this budget process. >> congresswoman, i want to get you on the record about senator rand paul coming out in support of comprehensive immigration reform. right now it looks like r
from the social security tax increase and the cross the board spending cuts that went into effect on march 1st? and is it possible that the fed might see a need to provide more support to the economy, if that -- because of that drag, the drag on fiscal. >> well, our analysis is fairly comparable to analysis that congressional budget office as presented to the congress. and they estimate that putting together all the fiscal measures, including the fiscal cliff deal, the sequester, and other cuts, that federal fiscal restraint in 2013 is cutting something like 1.5 percentage points off of growth. which, of course, is very significant. so that is an issue for us. we -- you know, we take as given what the fiscal authorities are doing. the economy is weaker, job creation is slower than it would be otherwise. and so that is one of the reasons that our policy has been as aggressive as it is. that being said, as i've said many times, monetary policy cannot offset a fiscal restraint of that magnitude. and so the final outcome will be worse, or in terms of jobs, than would have been the cas
one. give we give away money, about $1.2 trillion. everyone knows the tax code is a mess. economically inefficient. stacked off in times against the middle class. so if we can clean up the tax code that would be beneficial. second, healthcare issue is a very serious one. medicare costs are coming down but there's a demographic that awaits us. 10,000 folks a day are going on to medicare and it is not just medicare issue. it is a healthcare spending issue in this country that's tough on businesses, tough on individual. so if we can do something to help slow that rate of growth and confidently keep it down, that's beneficial for the broad economy. >> americans were according to polls, americans are strongly in favor of gun can control. recent poll, favor background checks. more than half favor banning assault weapons. over half favor banning large magazines. >> that's the reason i think the president is glad to be away from washington, away from congress. there is a level of dysfunction here. the power in this institution is enormous. it takes away from common sense steps. you have the fi
, but outright theft was being discussed, but the cypriot government tried to introduce a new tax. though it was soundly rejected by the parliament, this didn't stop one particular television network from implying it might someday be proposed here in the united states. this nonsensical nothing was then followed by the asking of a question that appeared to come out of the nowhere. >> a research in killing jesus, do you know why jesus was killed? by the romans? >> that question has been considered by some of the finest theological minds in history. and it will be expounded from pull pits around the nation as we approach easter sunday. but all of them have clearly missed the point, according to mr. o'reilly. >> you don't know and shouldn't know, because it was about taxes. >> you don't know and you shouldn't know, because it was about taxes. now, as anyone with a modicum of biblical history will tell you, the death of christ was an act of substitutionary atonement. he neither lived nor died for taxes. in fact he simply said one should discharge one's responsibility to the state by rendering
balances the budget in ten years, but with huge spending cuts and even tax cuts as well. and on the senate side, democrats raise taxes by a trillion dollars, cut spending by about the same, don't balance the budget in the near future. ultimately this doesn't have to become law, these are blueprints, but ultimately if there's any chance at dealing with the debt and deficit, these two, very different philosophies and visions. >> early april, the president comes up with his budget recommendation. a lot of people are hoping all of this will eventually result in the grand bargain, a real deal looking down the road, everyone on board basically. a deal that would avoid, for example, having to worry about raising the debt ceiling end of july, early august. is that at all doable? >> it is possible. i wouldn't go as far as saying doable now. but what i will say, the difference in approach now versus say two years ago when they tried this and it failed and it was, you know, almost the end of the world as the u.s. bumped up against the debt ceiling, the difference is they are going through what we cal
tax on the large depositors which would lead to a tax of around 15% or 16%. or they can basically restructure their two bad banks. it would be very simple to do that. what would happen is the banks would write off all their equity, write-off their senior debt, write-off their dpovt subordinated debt. and then the large depositors would president owners of the new bank and convert. >> narrator: between 50% and 30% of their new depositors in the banks. >> could they say we don't want to do anything of those? >> certainly they can choose to do that. i don't think that's necessary. basically, if they do nothing, and the ecb carries through with its policy of cutting off liquidity on monday, they will have no choice but to restructure the two banks. >> are you surprised to see lines forming? >> no. depositors are frightened for their money. they've been told there's a high likelihood of the banks closing and staying closed for a period of time. in fact, the lines are not as long as i would have expected them. >> wow. interesting 30i7b9. i had a discussion with simon hobbs, my colleague
unpopular tax on private savings accounts failed to collect a single yes vote. for more, let's check in with with my cube mate in cyprus. michelle, you made it. >> reporter: yeah, we made it finally after lots of delays. now it's mission critical and a search for plan b. last night the parliament roundly said we don't want to attach the deposits of the banking system here. but the situation is they still have to come up with nearly 6 billion euros. remember what the end game here. this country has gone to other european countries and said we need a total of 17 billion euro toss bail out our banks and keep our government afloat. and they said we'll give you 10 billion. you have to contribute something yourself. you know where all the money is in this country? it's in the banking system. it's a huge banking system, eight times the size of their economy. consider this, brian, if the us banking system was as big relative to the u.s. economy as cyprus is, we would have 45 more banks the size of jpmorgan in the united states. that's how big it is. that's why there's a need to tax deposits.
to collect sales tax from all out of state internet retailers will take place in the senate today. inevitably, it has a lot of support from the big box retailers in particular. let's bring in john harwood who is live from d.c. though this may just be a symbolic vote, weir to are told john. >> symbolic, but not meaningl s meaningless. it's a spring training of sorts to test opinion within congress on various causes. we saw a vote yesterday on the budget resolution, on the repeal of a medical device tax that was included to help finance the national health care law in the early part of the obama administration. the reason it's spring training is that budget resolutions themselves are not lost. so these are not binding votes, but they're a way to test sent ims for what they make later on and that's what we're seeing on the online sales tax situation. 48 states already have laws on the books requiring online retailers to collect state sales tax, but those laws are often ignored and you have a bill that has some bipartisan support that would require all states to collect those taxes. if split, th
again, not surprising, the parties split over taxes, spending cuts, and the deficit. house republicans and democrats from the house are now trying to make their case. >> the republican budget, the same baby with a new dip somewhere there is diaper will have be changed once again. reality is, this budget is very little difference between this budget and the ryan republican budgets of the past. >> you want more tax and spend or you want a future that balances. the question is always why, one or the other. the democrats' tax and spend, you get the same economy that you've had right now. you're going to lose more of your paycheck which every person working today has. >> all right. so another thing happening at the white house here. the easter egg roll might be spared from this government gridlock. all this started when ticket holders to the annual event were told it could be cancelled if lawmakers cannot agree on a plan to prevent the government from shutting down. this year's easter egg roll set for april 1st. looks like it's going forward as planned. we know it's a fun event. a lot of pe
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state. that would raise taxes on the wealthy. taxes on corporations. it would also protect safety net programs and domestic priorities like education from cuts sought by house republicans yesterday. meanwhile, as our nbc news first read team notes, guns and immigration are set to take center stage when congress gets back next month after a two-week recess on. gun control, senate majority leader harry reid is demanding any bill passes the senate must include universal background checks. that come after announcing a ban on assault weapons would be stripped from the bill because there's not enough support and it might doom the whole measure. meanwhile, there is plenty of bipartisan support for immigration reform. however, there is still no bill. april ryan is the white house correspondent. and chris is a democratic strategist. good to see both of you. gun control sure to be the most contentious issue. universal gun checks, increased penalty for purchase and grants for school safety. why cannot we get a ban on assault weapons? why cannot we get a ban on high capacity ammunition clips and
the terms of the cypress bailout could send europe into another financial crisis. it calls for a tax on every bank account in cypress. the euro hit its lowest level this year. >>> europe's largest bank wants to get leern and meern. it is part of strategy to make it more profitable. more than 40,000 employees and 50 branchs in the u.s. >>> this week, the postal service be told to keep on delivering on saturday. it says it can save $2 billion by cutting saturday delivery. >>> we're told that tourism to an unlikely spot is booming. north korea is a military dictatorship with constant surveillance that spends more money on rockets and weapons than its own people. a tour company expects five times as many tourist this is year as it did four years ago, when tourism wiz first aloud. that's only a total of 500. >> 500 people. >>> oz great and powerful. magic again at the box thaufs week. the film, like abc news, is part of disney. making it the biggest hit this year. took in $42 million. the call connected for 17 million. the invebl burt wonderstone was less than credible. my daughter, not m
slash $4.6 trillion over ten years without raising taxes. now senator patty murray will work with congressman paul ryan to try and bridge the gap between the two radically different proposals. mark, i think it would have been a public service to the american public to actually point out some of the amendments that they raised in this marathon session they had over in the senate over the weekend. >> from the sublime to the ridiculous. >> oh, my god. >> but they have a senate budget now and a house budget and i think most people think we are going to plod through this year and not have a big deal unless the president somehow comes back and reengages but a pretty big difference starting with the senate bill has lots of new revenue in it. >> give me an idea. give me an idea of the previews of coming traattractions. >> you have patty murray with her budget and paul ryan with his budget on the other side of the table. >> let's say i think they are far apart which i'm dubious as to where these negotiations will go and it comes back to what we were talking about earlier. where is the
to $30 million in tax funds that santa clara voters approved earmarking for the team's new stadium. the ruling came in response to a lawsuit filed by the 49ers. the team did not respond to the request for comment because the decision to still be appealed. the withheld funds are not expect a slow construction of the $1.2 billion stadium. >> whether wise it is looking good for today and >> whether wise it is looking good for today and we in the head would thyou eat less...ing weiyou lose weight.et. it's a great plan... until you get hungry. that's the time to take slimful. one tasty 90-calorie slimful and a glass of water satisfies hunger for hours making it easier to eat smaller meals, and resist snacking. your friends might think you found the secret to losing weight. but it's no secret... it's slimful. eating less is a beautiful thing. >> we're back on the kron 4 morning news. it is friday we have the weekend to look forward to. let us find out what kind of weather we can expect. >> we can expect sunshine perhaps seventies. it will feel like springtime run the bay area. temperatur
that they would have to tax the bank accounts of their own citizens and those of foreigners in their country to help pay back this loan to bail them out. they don't like the idea of that at all. who's pushing it? we don't know where it came from, but we know a very strong eurozone member, germany, has been talking a lot about accountability. the idea that if you have a bailout like this for cyprus there has to be some really strong participation from cyprus in paying it back. and maybe there's no other way for them to pay back. that is what has spurred so much talk about russia of all things. why russia? why would russia be so interested in all this? there's a historic connection between russia and cyprus, but importantly many, many russians have many, many millions of dollars in those cyprus banks as an offshore tax haven. enough so they may control half of the accounts there in cyprus. the russian government does not want that money lost to its citizens for investment in russia, for building in russia. so the idea has been floated that maybe russia will step in and find a way to help pay b
if you are an employee rather than an independent contractor you get certain benefits, taxes are deducted, there are minimum wage laws, et cetera. if they are an independent contractor the rules don't apply. a lot of the girls are paying to dance there. when they get tips testify to tip out bartenders and the like. they have a vested interest in not classifying them as employees. but they are probably employees. as long as the employer has some control over their hours, what they wear, how they do their job they are employees. these girls probably have a good lawsuit. >> that didn't come out right. the stripper story made us think about you. i should have said -- >> don, really. >> strippers are attractive. thanks, karen. we appreciate it. see you next time. >> all right, don. >>> boy scout leaders and eagle scouts make their voices heard. >> do my duty to god and country. scout sign, please. >> why they say homosexuality and politics have no place in their organization. ♪ ♪ ♪ ♪ [ female announcer ] nothing gets you going quite like the power of quaker oats. today is going to be e
reports new york is offering tax incentives to lure the show back to the big apple. as far as who would replace fallon after he moves on up in the lineup the new york post said nbc could dip into the "snl" pool once again, the great seth meyers is rumored to be the top man for the job. cnn reached out to nbc but the network is not commenting. >>> it was 50 years ago today when pop culture changed forever. today is the 50th anniversary of the release of the beatles' first album. please please me. the lp hit shelves in britain on march 22nd in 1963. sales started out slow. but it would hit number one in may. the british invaded and the beatles never looked back and neither did society. >>> game of thrones fans you still have a full week plus to wait for the premiere of season three but we can help you get your fix before then. don't miss my interview next week with game of thrones cocreator david benioff and i'll try to pry a few secrets out of him about the upcoming season. we asked you earlier to come up with a new cheer for harvard's basketball team. go crimson! at least we've got most
doing something he hasn't done in almost 30 months. >>> plus, the irs spends your tax money on a star trek themed training video. and bill gates and condoms. the power block is next. oh, hi thehey!ill. are you in town for another meeting? yup, i brought my a-team. business trips add up to family time. this is my family. this is joe. hi joe! hi there! earn a ton of extra points with the double your hhonors promotion and feel the hamptonality. even in stupid loud places. to prove it, we set up our call center right here... [ chirp ] all good? [ chirp ] getty up. call me! seriously, this is really happening! [ cellphone rings ] hello? it's a giant helicopter ma'am. [ male announcer ] get it done [ chirp ] with the ultra-rugged kyocera torque, only from sprint direct connect. buy one get four free for your business. >>> bottom of the hour, i'm brooke baldwin. technology, sports, business, health, science and showbiz news the we're hitting it all for you right now in the power block beginning with this. cbs forced to say sorry for this scene in the amazing race. watch. >> here? oh, there.
just that, alex. being nuanced in whether he's talking about drones, tax reform -- he's always been very nuanced to make sure he has -- and people starting to realize a wider vision for his own political career and that's exactly why he didn't mention specifically pathway to citizenship. what's interesting, though, prior to that a.p. story i can share with you that the chatter was he was going to talk about pathway to citizenship. so i might -- you know, the big question is, did he back away from that after he heard the chatter and heard that individuals were not welcoming it in the extreme part of the party. let's be clear. short of a pathway to citizenship for 11 million undocumenteds, the republican party is still going to have a latino vote problem. what's going to happen, unless we provide a pathway to citizenship eventually, what's going to happen is every day american latinos are going to always have a question mark when they interact with every day americans when people are going to ask them, are you here as an american citizen or a legal resident? >> well, this is becoming
't file joint tax returns or get joint survivor's social security benefits. if the supreme court upholds doma, all of that remains the same. if they overturn it, the federal government will have to treat married people as married people. >> more than half of the country now in support of same-sex marriage. is it that way? does the court line up that way as well? >> this is always a very difficult question. what effect does public opinion have on the justices? the official answer is none. they just apply the constitution. the real-world answer is, plenty. there are five republicans and four democrats on the supreme court. that's pretty much all you need to know. however, one of the republicans is anthony kennedy who has been generally very supportive of gay rights. so many people think he will join the democrats in voting to overturn doma. >> when talking about interracial marriage, i would imagine it was a very similar situation at that time. >> the parallels to the case you're referring to, loving versus virginia, 1967, the case that said states could no longer ban racial intermarriage,
, whether it's taxes, whether it's marriage, whether it's child custody, say gay people get one set of benefits and straight people get another? can gay people get less? those are really the questions in both cases, and the court has never really answered that question clearly. and we should know a lot more tomorrow. >> and in terms of court watching, we know that there are generally four -- traditionally four liberal justices we assume will support same-sex justices, three or four conservative justices who will probably oppose it. does this, like so many other cases before it, come down to justice kennedy? >> anthony kennedy is the most powerful judge and maybe the most powerful person in america because of the split you talk about. one reason why supporters of same-sex marriage are optimistic about his vote is that, even though kennedy usually sides with the conservatives, gay rights has been a subject where he has sided freeblquently withe liberals, the author of the two most important gay rights decisions at the supreme court. so there's a lot of optimism among gay rights suppor
places. a proposed eu bailout for cyprus includes a tax on bank customer's savings accounts. an idea that sends shivers through the investment community. right now the dow down just a bit, down 20 points here on this monday. we promise to keep an eye on that for you. >>> lbgt americans are our colleagues, our teachers, our soldier, our friend, our loved ones. and they are full and equal citizens and deserve the rights of citizenship. that includes marriage. >> hillary clinton today endorsing gay marriage. the former secretary of state appearing in this video by the human rights campaign just weeks after leaving the administration. clinton says she wishes every parent the joy of watching their kids get married. >>> the nom nominee for the labor department once worked as a garbage collector. he paid his way through college by working odd jobs including sanitation. today he thanked the president in english and spanish. he will replace hilda solis. >>> it is official, tiger woods and lindsey vonn love birds. the golfer confirming the two are an item. she mentioned it on per twitter accou
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